Advanced Petrochemical Gains 2% as TASI Retreats to 11,315

Market Overview: TASI Faces Selling Pressure

The Saudi Exchange (Tadawul) saw its benchmark index, the TASI, retreat by 0.3% in recent trading, closing at 11,315 points. The session was marked by cautious sentiment among institutional and retail participants, resulting in a total turnover of SAR 3.4 billion. While the broader market faced downward pressure, the session highlighted a divergence in sector performance, with specific equity stories driving idiosyncratic price action despite the bearish macroeconomic backdrop.

Sector Performance and Individual Movers

Market breadth remained skewed toward the downside, yet selective buying interest prevented a more significant correction. Al Rajhi Bank (1120.SR), a heavyweight constituent of the TASI and a bellwether for the Saudi financial sector, managed to resist the broader selling pressure. The stock edged up by less than 1%, closing at SAR 108.10. Given Al Rajhi’s significant weighting in the index, its performance provided a necessary floor that prevented a more aggressive slide in the headline number.

Conversely, the materials sector saw a notable bright spot as Advanced Petrochemical Co. (2330.SR) outperformed the index. Shares of the company gained 2%, settling at SAR 27.84. This upward momentum followed the release of the company’s Q1 2026 financial results. For traders, the positive reaction to these earnings suggests that the market is currently rewarding companies that can demonstrate operational resilience and margin stability in a challenging commodity price environment.